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22 April 2022 Supervision Supervision label Factsheet

DNB has a number of intervention tools at its disposal to enforce compliance with the Financial Supervision Act (Wet op het financieel toezicht – Wft) and secondary rules.

DNB and the Dutch Authority for the Financial Markets (AFM) are responsible for supervising compliance. To do so effectively, DNB has the power to impose enforcement measures such as an administrative fine, an order subject to penalty or an instruction in the event of non-compliance with the Wft. Issuing a public warning is another measure at DNB’s disposal.

1.1 What is a public warning?

A public warning is not an enforcement measure; its purpose is to inform the public rather than to end or penalise an instance of non-compliance. When issuing a public warning, DNB has to weigh up the importance of warning the public against the interests of the financial institution that could suffer serious adverse financial or other consequences.

1.2 When will DNB issue a public warning?

DNB will issue a public warning in the event of non-compliance with the Wft or related regulations if it believes it is in the general public's best interest to inform it swiftly and effectively to prevent or minimise losses.

1.3 Publication

A public warning may be published five business days following the day on which DNB has communicated its decision to issue a public warning to the financial institution concerned. If, during this period, the court is requested to grant injunctive relief, publication of the public warning will be suspended until the court in preliminary relief proceedings has passed judgement. In urgent cases, DNB can publish the public warning immediately, without observing the five-day period.

1.4 Objection and appeal

Decisions to issue a public warning are open to objection within six weeks of the date of receipt. Objections may be lodged online via the notice of objection page or by regular mail. Following receipt of an objection, DNB will review its decision.

Dismissed objections are appealable before the Rotterdam District Court. Rulings of the Rotterdam District Court are appealable before the Trade and Industry Appeals Tribunal (College van Beroep voor het bedrijfsleven – CBb).

Sector(s)

  • Banks
  • Clearing institutions
  • Collective investment schemes
  • Insurers
  • Investment firms
  • Payment institutions
  • Pension funds
  • Trust offices